Profile

Both Parties have to comply with the provisions of Goods and Services tax laws (hereinafter referred to as “GST” which includes but is not limited to Goods and Services tax Act shall mean Central Goods and Services tax Act, 2017 (‘CGST’); Union Territory Goods and Services tax Act, 2017 (‘UTGST’); Respective State Goods and Services tax Act 2017 (‘SGST’) and Integrated Goods and Services tax Act, 2017 (‘IGST’)). ICRA shall have the right to recover any amount payable for excess taxes accrued by ICRA due to the implementation of GST. ICRA shall decide on the location of supplier place of supply of service, service accounting code, rate of applicable GST, address, GSTN and contact details based on the information available with ICRA and such decision shall be final and binding on the Company. Any change in the Company’s address, GSTN and contact details has to be intimated to ICRA within 7 (seven) days and ICRA shall not be held liable in case of any mismatch in the report generated by GSTN due to any omission by the Company in providing such information to ICRA. All taxes chargeable and payable under the old tax regime shall be charged on transactions occurring prior to the appointed date and reimbursable by the Company to ICRA even after the implementation of GST. The Company shall reverse any input tax credit on the amount of discount given by ICRA vide a credit note and shall confirm such reversal by e-mail and also upload details of the same on GSTN portal. The Company shall be liable for any liability, tax, interest, penalty, charges etc. arising on account of non-compliance of GST or incorrect information provided to ICRA.